Just today in CNN News! 2015 is the year for the Home Buyer!
Julian Castro, United States Secretary of Housing and Urban Development speaks to CNN about the Presidents outlook for the middle class, FHA’s premium deduction and yes.. His prediction that 2015 will be the year of the home buyer.
With the FHA mortgage insurance premium reduction, the Administration is saying that there will be an annual savings of $900. There is skepticism that these predictions of savings are overstated and the most that could be save is $25 per month. No one can dispute the need for our market to be mortgage friendly! We know it’s been tough to say the least.. Especially when Ben Bernanke stated that even he was unsuccessful in remortgaging his home. Once it was too easy to get a mortgage.. now it’s too hard. “Now we need to be in the strong middle”
With the rental market on the rise more Millennials will start to become buyers along with other market segments who have been renting and are ready to buy! In so many markets, even looking at the West Palm Beach Market, we see a rise of rental buildings coming into downtown. These Luxury rentals have a deep appeal to those who elect to not own and want to keep their options open as most rent here with a second or third home in other states or countries.
So while rent prices are driving up, permanent residents are ready for investment, a home. Which still is the best investment for the majority of the country. Your home still appreciates and with regulations built in should continue to gain value slowly over time.
Of course with these predictions coming to pass and home buyers rising in 2015 the need for a great Title Company is more necessary than ever! For those of us at James N Brown PA, we aim to protect your most important investment, your home. Call us if you’re getting ready to purchase a home! James N Brown PA 1.561.838.9595!